U.S. patent application number 16/260616 was filed with the patent office on 2019-08-01 for system and method for digital currency via blockchain.
This patent application is currently assigned to Walmart Apollo, LLC. The applicant listed for this patent is Walmart Apollo, LLC. Invention is credited to Robert CANTRELL, Brian MCHALE, David M. NELMS, John J. O'BRIEN.
Application Number | 20190236564 16/260616 |
Document ID | / |
Family ID | 67392258 |
Filed Date | 2019-08-01 |
United States Patent
Application |
20190236564 |
Kind Code |
A1 |
CANTRELL; Robert ; et
al. |
August 1, 2019 |
SYSTEM AND METHOD FOR DIGITAL CURRENCY VIA BLOCKCHAIN
Abstract
A method include: generating one digital currency unit by tying
the one digital currency unit to a regular currency; storing
information of the one digital currency unit into a block of a
blockchain; buying or paying the one digital currency unit;
determining whether restrictions are applied to the one digital
currency unit by referring to one or more documents associated with
the one digital currency; recording the determination in a block of
the blockchain; overlaying the one digital currency unit with
customer purchase history; calculating savings based on the one
digital currency unit again naked forecast; applying the savings to
customer purchases; using the one digital currency unit for
accepted goods or services with the saving if the one digital
currency unit is restricted; using the one digital currency unit
for any goods or services with the saving if the one digital
currency unit is unrestricted; and storing the one digital currency
into a digital currency reserve.
Inventors: |
CANTRELL; Robert; (Herndon,
VA) ; NELMS; David M.; (Rogers, AR) ; O'BRIEN;
John J.; (Farmington, AR) ; MCHALE; Brian;
(Oldham, GB) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
Walmart Apollo, LLC |
Bentonville |
AR |
US |
|
|
Assignee: |
Walmart Apollo, LLC
Bentonville
AR
|
Family ID: |
67392258 |
Appl. No.: |
16/260616 |
Filed: |
January 29, 2019 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
|
|
62624721 |
Jan 31, 2018 |
|
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Current U.S.
Class: |
1/1 |
Current CPC
Class: |
G06Q 20/0658 20130101;
G06Q 20/065 20130101; G06Q 20/381 20130101; G06Q 20/389
20130101 |
International
Class: |
G06Q 20/06 20060101
G06Q020/06; G06Q 20/38 20060101 G06Q020/38 |
Claims
1. A method comprising: generating one digital currency unit by
tying the one digital currency unit to a regular currency; storing
information of the one digital currency unit into a block of a
blockchain; buying or paying the one digital currency unit;
determining whether restrictions are applied to the one digital
currency unit by referring to one or more documents associated with
the one digital currency; recording the determination in a block of
the blockchain; overlaying the one digital currency unit with
customer purchase history; calculating savings based on the one
digital currency unit again naked forecast; applying the savings to
customer purchases; using the one digital currency unit for
accepted goods or services with the saving if the one digital
currency unit is restricted; using the one digital currency unit
for any goods or services with the saving if the one digital
currency unit is unrestricted; and storing the one digital currency
into a digital currency reserve.
2. The method of claim 1, wherein the regular currency is U.S.
dollar.
3. The method of claim 1, the method further comprising: recording
the digital currency unit as a restricted digital currency unit
when the digital currency unit is determined as restricted; and
recording the digital currency unit as an unrestricted digital
currency unit when the digital currency unit is determined as
unrestricted.
4. The method of claim 1, further comprising: applying greater
certainty of goods to be purchased against naked forecast
uncertainties.
5. The method of claim 1, wherein the savings vary by products and
is higher for predicted goods of the customer.
6. The method of claim 1, further comprising: receiving the one
digital currency unit worth one US dollar plus the savings against
good type.
7. A system, comprising: a processor; and a computer-readable
storage medium having instructions stored which, when executed by
the processor, cause the processor to perform operations
comprising: generating one digital currency unit by tying the one
digital currency unit to a regular currency; storing information of
the one digital currency unit into a block of a blockchain; buying
or paying the one digital currency unit; determining whether
restrictions are applied to the one digital currency unit by
checking a database in which restrictions associated with the one
digital currency are stored; recording the determination in a block
of the blockchain; overlaying the one digital currency unit with
customer purchase history; calculating savings based on the one
digital currency unit again naked forecast; applying the savings to
customer purchases; using the one digital currency unit for
accepted goods or services with the saving if the one digital
currency unit is restricted; using the one digital currency unit
for any goods or services with the saving if the one digital
currency unit is unrestricted; and storing the one digital currency
into a digital currency reserve.
8. The system of claim 7, wherein the regular currency is U.S.
dollar.
9. The system of claim 7, the computer-readable storage medium
having additional instruction stored which, when executed by the
processor, cause the processor to perform operations comprising:
recording the digital currency unit as a restricted digital
currency unit when the digital currency unit is determined as
restricted; and recording the digital currency unit as an
unrestricted digital currency unit when the digital currency unit
is determined as unrestricted.
10. The system of claim 7, the computer-readable storage medium
having additional instruction stored which, when executed by the
processor, cause the processor to perform operations comprising:
applying greater certainty of goods to be purchased against naked
forecast uncertainties.
11. The system of claim 7, wherein the savings vary by products and
is higher for predicted goods of the customer.
12. The system of claim 7, the computer-readable storage medium
having additional instruction stored which, when executed by the
processor, cause the processor to perform operations comprising:
receiving the one digital currency unit worth one US dollar plus
the savings against good type.
13. A non-transitory computer-readable storage medium having
instructions stored which, when executed by a computing device,
cause the computing device to perform operations comprising:
generating one digital currency unit by tying the one digital
currency unit to a regular currency; storing information of the one
digital currency unit into a block of a blockchain; buying or
paying the one digital currency unit; determining whether
restrictions are applied to the one digital currency unit by
checking a database in which restrictions associated with the one
digital currency are stored; recording the determination in a block
of the blockchain; overlaying the one digital currency unit with
customer purchase history; calculating savings based on the one
digital currency unit again naked forecast; applying the savings to
customer purchases; using the one digital currency unit for
accepted goods or services with the saving if the one digital
currency unit is restricted; using the one digital currency unit
for any goods or services with the saving if the one digital
currency unit is unrestricted; and storing the one digital currency
into a digital currency reserve.
Description
BACKGROUND
1. Technical Field
[0001] The present disclosure relates to digital currency, and more
specifically to systems and methods for providing digital currency
via blockchain.
2. Introduction
[0002] Digital currency may refer to a type of currency available
in digital form. Digital currency may include virtual currencies
and cryptocurrencies. Like physical money, digital currencies may
be used to buy any physical goods and services, but may also be
restricted to certain communities and certain items that can be
purchased. Digital currency may also a money balance recorded
electronically on a stored-value card or other devices. Digital
currency may allow for the transfer of value on computer networks,
such as the Internet. Further digital currency can either be
centralized, or decentralized.
[0003] Blockchain is a shared and distributed ledger that may
facilitate the process of recording transactions and tracking
assets in a peer-to-peer network. An asset may be tangible (e.g., a
house, a car, and so on). An asset may also be intangible like
digital currency. An existing computer system of digital currency
may not accurately track digital currency transfer, thus causing
inefficiencies of the existing computer system. A blockchain-based
system of providing digital currency may facilitate accurately and
efficiently transferring digital currency and reduce disputes among
different parties.
[0004] The Blockchain-based system and method of providing digital
currency may further provide some advantages. For example, many
people are from low-income households where credit can be a problem
and carrying cash can be problematic. Keeping and accessing cash
can be expensive for low income households simply because those
customers may live week to week and may have little cash in their
bank accounts--if they have bank accounts. The cost of having
little money is high because of frequent short-term borrowing,
accumulated interest on short-term borrowing that becomes
long-term, high bank fees proportional to wealth, high credit card
fees, and high payday loan interests, all of which can take money
away that could be available--and would be used--to buy
necessities. Providing digital currency based on blockchain may
overcome the drawbacks associated with the low-income
househlods.
SUMMARY
[0005] A method for performing concepts disclosed herein can
include: generating one digital currency unit by tying the one
digital currency unit to a regular currency; storing information of
the one digital currency unit into a block of a blockchain; buying
or paying the one digital currency unit; determining whether
restrictions are applied to the one digital currency unit by
referring to one or more documents associated with the one digital
currency; recording the determination in a block of the blockchain;
overlaying the one digital currency unit with customer purchase
history; calculating savings based on the one digital currency unit
again naked forecast; applying the savings to customer purchases;
using the one digital currency unit for accepted goods or services
with the saving if the one digital currency unit is restricted;
using the one digital currency unit for any goods or services with
the saving if the one digital currency unit is unrestricted; and
storing the one digital currency into a digital currency
reserve.
[0006] A system configured as disclosed herein can include: a
processor; and a computer-readable storage medium having
instructions stored which, when executed by the processor, cause
the processor to perform operations comprising: generating one
digital currency unit by tying the one digital currency unit to a
regular currency; storing information of the one digital currency
unit into a block of a blockchain; buying or paying the one digital
currency unit; determining whether restrictions are applied to the
one digital currency unit by referring to one or more documents
associated with the one digital currency; recording the
determination in a block of the blockchain; overlaying the one
digital currency unit with customer purchase history; calculating
savings based on the one digital currency unit again naked
forecast; applying the savings to customer purchases; using the one
digital currency unit for accepted goods or services with the
saving if the one digital currency unit is restricted; using the
one digital currency unit for any goods or services with the saving
if the one digital currency unit is unrestricted; and storing the
one digital currency into a digital currency reserve.
[0007] A non-transitory computer-readable storage medium configured
as disclosed herein can have instructions stored which, when
executed by a computing device, cause the computing device to
perform operations which include: generating one digital currency
unit by tying the one digital currency unit to a regular currency;
storing information of the one digital currency unit into a block
of a blockchain; buying or paying the one digital currency unit;
determining whether restrictions are applied to the one digital
currency unit by referring to one or more documents associated with
the one digital currency; recording the determination in a block of
the blockchain; overlaying the one digital currency unit with
customer purchase history; calculating savings based on the one
digital currency unit again naked forecast; applying the savings to
customer purchases; using the one digital currency unit for
accepted goods or services with the saving if the one digital
currency unit is restricted; using the one digital currency unit
for any goods or services with the saving if the one digital
currency unit is unrestricted; and storing the one digital currency
into a digital currency reserve.
[0008] Additional features and advantages of the disclosure will be
set forth in the description which follows, and in part will be
obvious from the description, or can be learned by practice of the
herein disclosed principles. The features and advantages of the
disclosure can be realized and obtained by means of the instruments
and combinations particularly pointed out in the appended claims.
These and other features of the disclosure will become more fully
apparent from the following description and appended claims, or can
be learned by the practice of the principles set forth herein.
BRIEF DESCRIPTION OF THE DRAWINGS
[0009] FIG. 1 illustrates exemplary electronic currency;
[0010] FIG. 2 illustrates an exemplary electronic currency
flow;
[0011] FIG. 3 illustrates an exemplary use of electronic currency
on the go;
[0012] FIG. 4 illustrates a flow chart of an exemplary method of
circulating electronic currency;
[0013] FIG. 5 illustrates an exemplary blockchain; and
[0014] FIG. 6 illustrates an exemplary computer system.
DETAILED DESCRIPTION
[0015] In this disclosure, a blockchain protected digital currency
may be provided. The digital currency may be pegged to the US
dollar and available for use only at selected retailors or
partners. In other embodiments, the digital currency is available
for use anywhere. The digital currency can provide a fee-free, or
fee-minimal place to store wealth that can be spent, for example,
at retailers and, if needed, easily converted to cash. Such
accounts could even earn interest. Digital currency may be tied to
a national currency, such as the US dollar, so funds can be added
or taken out easily. The digital currency value could, in some
embodiment, be tied to other digital currencies.
[0016] Using a digital currency, low-income households that find
banking expensive, may have an alternative way to handle wealth at
an institution that can supply the majority of their day-to-day
financial and product needs.
[0017] Embodiments of the invention may provide an open-platform
value exchange for purchases and for crowdsource work. Customers
may buy products for their households and may also buy products for
others, deliver products to others, do crowdsource work--for
example, be a repair technician for a few hours, an associate for a
few hours, a designated shopper. These may be done seamlessly
through a digital currency ecosystem, for example, a digital
currency exchange platform that may be implemented according to the
disclosed system and method. This digital currency ecosystem can be
paired with a work board where customers, crowdsource prospects,
and others can post requests and offers for work.
[0018] Digital currency could be used at selected partners, and in
the ecosystem environment. Those partners may use earned digital
currency to buy supplies at stores or through a supply distribution
center.
[0019] In some embodiments, digital currency may remove credit and
debit cards without requiring cash by offering a
blockchain-protected digital currency. In some embodiments, the
digital currency may act as a pre-approved biometric (e.g.,
fingerprint or eye pattern) credit. A person is the "credit card"
to their own digital value bank.
[0020] In some embodiments, digital currency may be used for a
currency micromarket. As used herein, the micromarket may refer to
an unattended retail environment where consumers can purchase
products from open shelves, coolers, or freezers and use a
self-checkout kiosk to pay for their products. Customers without
traditional bank accounts can create a microbank at an institution
such as a retailer, which gains interest while their money is
there. A customer buys digital currency, such as at the beginning
of a month. The purchase may be made using another type of
currency, dollars, Bitcoins, yen, etc. A smart analysis AI
(artificial intelligence) helps the customer to buy an amount
according to his budget, values, affinities, and preferences.
[0021] In some embodiment, a reward program may be created. In the
reward program, for each unit of digital currency a person spends
or earns, the person receives rewards toward other purchases.
[0022] In some embodiments, digital currency futures may be
provided. Customers can buy digital currency and be able to buy
goods at the price that exists on that day, even if prices go
up--subject to limits. This could be a better way for customers to
guarantee purchasing power for a period than putting money in a
bank, while at the same time offering a predictable source of
revenue for retailers.
[0023] In some embodiments, the digital currency may compensate for
unreliability. For example, short-term, emergency loans may be
offered, where the customer is charged no interest or a fair
interest rate. Payment is in a digital currency good for staples
such as food.
[0024] In some embodiments, retailers may be directly to aid
organizations for assistance that may be used to provide goods.
Retailers may tie into assistance that can provide vehicles or
funding for vehicles to get goods to customers when the customers
do not have efficient mobility otherwise.
[0025] In some embodiments, different features may be combined with
each other, or removed entirely. In some embodiments, digital
currency can offset forecast uncertainties as follows. The purchase
or payment in one unit of digital currency can be logged as revenue
or future revenue since it will (or would be highly likely) to be
spent at a retailer versus elsewhere or exchanged. Forecasts can be
further smoothed by inputting customer purchase history as a way to
make more accurate forecasts, which can lead to savings (n) over
naked forecasts. Some of n can go to the customer using the digital
currency, which in effect makes the digital currency more valuable
at the retailer than the equivalent dollar used for the exchange, a
win-win for the retailer and the customer. The savings can be
different by product type to factor in differences in margins and
differences in the impact of improved forecasts. The savings can be
greater when the customer buys goods that are on his or her
shopping history and are therefore predicted, which has the added
effect of helping predictions to come true, making forecasts more
accurate (as noted above), and creating a larger savings, matching
customer balance of ecommerce versus purchase habits, and
determining that upcoming purchases will be made. For example,
analysis can result in more accurate forecasts, and less waste,
making inventory and ordering computer systems run more
efficiently.
[0026] The analysis may be of the probability that a customer will
order a given product at a given store within a given timeframe.
Specifically, this may indicate a spatial, temporal, and material
variable (referred to as s, t, and m, respectively) and a risk
variable r that is the influences affecting the probability that a
forecasted s, t, and m is true. The analysis for forecasting here
may use any suitable forecasting algorithms. More accurate
forecasts may indicate a risk-reduction where the degree of
variance is minimized. Digital currency removes or reduces some
risks in the forecasting. An example may be illustrated here as
follows. A customer has $10 US dollars in his or her wallet or 10
units of a digital currency issued by a retail store, and that $10
US dollars could be spent anywhere, but the 10 units of the digital
currency must be spent at the retail store. The 10 units of digital
currency may be even fractionally more valuable for purchases at
the retail store than the $10 US dollars. As such, it greatly
reduce the risk that the forecast will be wrong because the
customer spent his or her money outside of the retail store. The
forecast accuracy about how much a customer will spend at the
retail store goes up. That customer will most likely be the entire
$10 equivalent.
[0027] The next question is what the customer will spend the money
on. To improve accuracy here, the digital currency is used here to
promote consistency, that a customer may receive more value if he
or she buys certain items repeatedly--which itself can be
influenced by standard local promotion techniques used at store to
balance inventory flow. Also, if it were involved in a government
assistance program, for example, where it is known when a customer
will be paid, and therefore, and when that customer will likely
shop, the forecasts become yet more accurate than they could be
when the customers payment cycle is unknown. As forecast accuracy
goes up, the cost of holding inventory to handle purchase variances
goes down, and the some of that aggregate value could be used as a
benefit to customers so that 10 units of digital currency has even
more purchasing power than 10 equivalent US dollars.
[0028] In some embodiments, the digital currency could offer
restrictions on what product categories are allowed to be bought
and by whom. The digital currency could be restricted to product
classes, price, or any other restriction that the owner of the
currency wishes (e.g., only to be used for food purchases). The
digital currency system may allow a customer to have several
different tenders on file in their account. Based upon the
products, the system would assign the cost to various forms of
tender including WIC, TANF, digital currency, credit card, business
account, etc. A set of rules may be used to assign product
categories to tender. This way a single purchase by the customer
could be broken down into several accounts. For example, a point of
sale (POS) system may be integrated with the digital currency and
may automatically charge multiple product categories to the digital
currency, but may charge alcohol purchases to a credit card and
perhaps small business purchases to a business account.
[0029] As an example of the set of rules, for example, in
government assistance and dependent care, a government-assistance
restricted currency may be good for food or even certain types of
food but not alcohol or cigarettes. It may preclude the purchase of
certain items a minor might otherwise purchase ranging from candy
to an R-Rated DVD. Restrictions might be spatially oriented, for
example, a currency a minor could use at the deli-counter, but not
at the cash register, as a way to aim that currency usage toward
buying lunch. It could be time oriented, also. For example, a
customer might have a currency variant that has a more purchasing
power if the customer shops when the store is traditionally not
busy versus at common periods of rush. It could be quantity-based,
for example, where a customer could buy (n) bottles of a pain
reliever a week and no more.
[0030] In some embodiments, new "gift cards" enabled by the digital
currency system could spend themselves before the card's 24-month
life expires. The system may purchase an item for the customer
based upon customer value vectors and perhaps the customer's
shopping list or pending shopping cart. Multiple gift cards may be
consolidated into a single digital currency account.
[0031] Systems, methods, and computer-readable storage media
configured according to this disclosure are capable of distributing
digital currency among two or more devices/parties. FIG. 1
illustrates an example digital currency 100. In this example,
blockchain may be used to allow digital currency to be treated like
a bitcoin. The digital currency may be issued one to one with
corresponding US dollars. The currency 100 can be tied to the US
dollars and can be blockchain verified.
[0032] FIG. 2 illustrates an example ecosystem 200 of digital
currency. The ecosystem may comprise a digital currency 202, a
financial institution or an organization 204 that may issue
paychecks or other forms of payments, an institution 206 that
manages the digital currency 202, an organization 208 that issues
the digital currency 202, and one or more partnering organizations
210 that partner with the organization 208 and accept the digital
currency 202.
[0033] In the ecosystem 200, the digital currency 202 may be any
form of digital currency, for example, virtual currency or
cryptocurrency. The digital currency 202 may be issued by the
organization 208 via the digital managing insinuation 206.
[0034] The paycheck or other form of payment 204 may be issued in
regular physical money or other digital currencies, by for example
an employer to its employees via the financial institution 204. The
paycheck or other form of payment 204 may be transferred from the
financial institution 204 to the digital managing institution 206
where all or part of the paycheck or other form of payment are
converted into a corresponding amount of digital currency 202 in
accordance with a specified exchange ratio (e.g., 1:1).
[0035] The digital managing institution 206 may be an independent
third-party institution or an institution associated with the
organization 208. The digital managing institution 206 may generate
the digital currency 202, convert between the digital currency 202
and other forms of currencies, etc.
[0036] The organization 208 may be a retailer. The origination 208
may issue via the managing institution 206 the digital currency
202, such that the digital currency 202 can be used by customers in
the organization 208, for example shopping goods or services
provided by the organization 206.
[0037] The partnering organizations 210 may collaborate with or be
selected by the organization 208 to accept the digital currency 202
for purchasing their products or services. The partnering
organizations 210 may also use the digital currency 202 to purchase
products or services from the organization 208, and may also cash
out the digital currency 202 from the digital currency managing
institution 206, for example converting digital currency to cash
(e.g., US dollars). With the digital currency 202, customers may be
offered an inexpensive way to keep a small balance. Fees paid to a
regular bank on small balances may not be charged.
[0038] In some embodiments, digital currency can be used on the go,
as shown in FIG. 3. Customers can pay or use digital currency via a
mobile device, such as a smart phone, a tablet, or a computing
pad.
[0039] FIG. 4 illustrates flow chart of an example method 400 for
circulating digital currency. The method 400 may comprise the
following steps.
[0040] At step 402, one new digital currency unit may be put into
circulation. The digital currency may be pegged to a regular
currency. The regular currency as used herein may include national
currencies (e.g., U.S. dollars) and cryptocurrencies.
[0041] At step 404, a certain amount of regular currency (e.g., US
dollars) may be placed into account (404A). Alternatively, a
certain amount of money of unsold inventory may be logged (404B).
Also alternatively, a certain amount of regular currency of future
unsold inventory may be logged (404C).
[0042] At step 406, digital currency may be mined or generated
corresponding US dollars.
[0043] At step 408, the digital currency may be hashed into a block
of a blockchain 420. An example of blockchain is shown in FIG.
5.
[0044] At step 410, a customer may log into an account to buy
digital currency with US collars or may be paid with digital
currency. For example, when the customer returns products, the
customer may be paid the corresponding digital currency.
[0045] At step 412, it is determined whether there are any
restrictions on the digital currency use. For example, the
restrictions may be stored in a database and associated with the
digital currency. In processing the transaction, the database is
checked to determine if there is a restriction on the digital
currency. The restrictions may be any form of resections, for
example digital currency associated with government assistance
payments may have restrictions that include no alcohol or
tobacco.
[0046] If the digital currency is determined to be restricted for
use, the digital currency may be recorded on the ledger of the
blockchain as restricted digital currency (step 414). For example,
the restricted digital currency may only be used to buy food, not
alcohol.
[0047] If the digital currency is determined to be unrestricted for
use, the digital currency may be recorded on the ledger of the
blockchain as unrestricted digital currency (step 416). For
example, the unrestricted digital currency may be used to buy
anything sold at retailers or selected partners.
[0048] At step 422, receipt of digital currency may be registered
as digital revenue or forecasted revenue for an entity.
[0049] At step 424, the digital currency may be overlaid with
customer purchase history. For example, a customer may buy digital
currency at the beginning of each month. A smart analysis AI
(artificial intelligence) may help the customer to buy according to
his budget, values, affinities, and preferences.
[0050] At step 426, greater certainty of goods to be purchased may
be applied against naked forecast uncertainties. For example, the
purchase or payment in one unit of currency can be logged as
revenue or future revenue since it will (or would be highly likely)
to be spent at digital versus elsewhere. Customer purchase history
may further be considered as a way to make more accurate forecasts,
which can lead to savings n over the naked forecasts.
[0051] At step 428, savings compared to naked forecast can be
calculated. For example, a saving factor n % may be generated. Some
of n can go to the customer using the digital currency, which in
effect makes the currency more valuable at a retailer than the
equivalent dollar used for the exchange, a win-win for the retailer
and the customer. The savings can be different by product type to
factor in differences in margins and differences in the impact of
improved forecasts. The savings can be greater when the customer
buys goods that are on their shopping history and are therefore
predicted, which has the added effect of helping predictions to
come true, making forecasts more accurate, and creating a larger
savings further making the digital currency a more attractive
option for customers, and overall creating a positive cascade
[0052] At step 430, n % of savings to customer purchases may be
applied. Again, n % can vary by product and be higher for their
predicted goods.
[0053] At step 432, customer receives one digital current unit
worth 1 dollar plus the saving factor n % against good type. Factor
n % can be made higher for predicted goods, may also add to the
probability that the prediction will be right, contributing to a
higher n, contributing to higher profits, and a greater n.
[0054] At step 434, it is inquired whether the digital currency is
restricted. If "Yes", customer may use the restricted digital
currency for accepted goods and services in retailer inventory with
the n % discount (step 436). If "No", the customer can use the
digital currency for any goods and services in retailor inventory
with the n % discount (step 438).
[0055] At step 440, the digital currency paid by the customer may
go into digital currency reserve for next circulation.
[0056] FIG. 5 illustrates an example transfer process 500 of a
digital currency via a blockchain, in according to one embodiment.
The process 500 may comprise the following steps.
[0057] At step 502, owner A may want to send digital currency to
owner B.
[0058] At step 504, the exchange of digital currency between owner
A and owner B may be hashed into a block of the blockchain.
[0059] At step 506, the block in which the exchange of digital
currency is stored, may be broadcast to all parties involved in the
blockchain. The blockchain is associated with a peer-to-peer
network comprising of a set of parties.
[0060] At step 508, the exchange is approved by the network based
on the longest blockchain. The exchange may be approved by at least
50% of all the parties of the network.
[0061] At step 510, upon approval of the exchange, the exchange can
be stored as a new block added to the longest blockchain.
[0062] At step 512, the digital currency is moved from owner A to
owner B.
[0063] With reference to FIG. 6, an exemplary system 600 can
include a processing unit (CPU or processor) 620 and a system bus
610 that couples various system components including the system
memory 630 such as read only memory (ROM) 640 and random access
memory (RAM) 650 to the processor 620. The system 600 can include a
cache of high speed memory connected directly with, in close
proximity to, or integrated as part of the processor 620. The
system 600 copies data from the memory 630 and/or the storage
device 660 to the cache for quick access by the processor 620. In
this way, the cache provides a performance boost that avoids
processor 620 delays while waiting for data. These and other
modules can control or be configured to control the processor 620
to perform various actions. Other system memory 630 may be
available for use as well. The memory 630 can include multiple
different types of memory with different performance
characteristics. It can be appreciated that the disclosure may
operate on a computing device 600 with more than one processor 620
or on a group or cluster of computing devices networked together to
provide greater processing capability. The processor 620 can
include any general purpose processor and a hardware module or
software module, such as module 1 662, module 2 664, and module 3
666 stored in storage device 660, configured to control the
processor 620 as well as a special-purpose processor where software
instructions are incorporated into the actual processor design. The
processor 620 may essentially be a completely self-contained
computing system, containing multiple cores or processors, a bus,
memory controller, cache, etc. A multi-core processor may be
symmetric or asymmetric.
[0064] The system bus 610 may be any of several types of bus
structures including a memory bus or memory controller, a
peripheral bus, and a local bus using any of a variety of bus
architectures. A basic input/output (BIOS) stored in ROM 640 or the
like, may provide the basic routine that helps to transfer
information between elements within the computing device 600, such
as during start-up. The computing device 600 further includes
storage devices 660 such as a hard disk drive, a magnetic disk
drive, an optical disk drive, tape drive or the like. The storage
device 660 can include software modules 662, 664, 666 for
controlling the processor 620. Other hardware or software modules
are contemplated. The storage device 660 is connected to the system
bus 610 by a drive interface. The drives and the associated
computer-readable storage media provide nonvolatile storage of
computer-readable instructions, data structures, program modules
and other data for the computing device 600. In one aspect, a
hardware module that performs a particular function includes the
software component stored in a tangible computer-readable storage
medium in connection with the necessary hardware components, such
as the processor 620, bus 610, display 670, and so forth, to carry
out the function. In another aspect, the system can use a processor
and computer-readable storage medium to store instructions which,
when executed by the processor, cause the processor to perform a
method or other specific actions. The basic components and
appropriate variations are contemplated depending on the type of
device, such as whether the device 600 is a small, handheld
computing device, a desktop computer, or a computer server.
[0065] Although the exemplary embodiment described herein employs
the hard disk 660, other types of computer-readable media which can
store data that are accessible by a computer, such as magnetic
cassettes, flash memory cards, digital versatile disks, cartridges,
random access memories (RAMs) 650, and read only memory (ROM) 640,
may also be used in the exemplary operating environment. Tangible
computer-readable storage media, computer-readable storage devices,
or computer-readable memory devices, expressly exclude media such
as transitory waves, energy, carrier signals, electromagnetic
waves, and signals per se.
[0066] To enable user interaction with the computing device 600, an
input device 690 represents any number of input mechanisms, such as
a microphone for speech, a touch-sensitive screen for gesture or
graphical input, keyboard, mouse, motion input, speech and so
forth. An output device 670 can also be one or more of a number of
output mechanisms known to those of skill in the art. In some
instances, multimodal systems enable a user to provide multiple
types of input to communicate with the computing device 600. The
communications interface 680 generally governs and manages the user
input and system output. There is no restriction on operating on
any particular hardware arrangement and therefore the basic
features here may easily be substituted for improved hardware or
firmware arrangements as they are developed.
[0067] The various embodiments described above are provided by way
of illustration only and should not be construed to limit the scope
of the disclosure. Various modifications and changes may be made to
the principles described herein without following the example
embodiments and applications illustrated and described herein, and
without departing from the spirit and scope of the disclosure.
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